We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone … significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and …

this result in a dynamic general equilibrium model where market participants have heterogeneous liquidity needs and where … money market rate and the volumes traded at the ECB's deposit and lending facilities in response to the recent financial …

analysis is that since T2 imbalances were caused by a sudden stop and are unlikely to grow without bounds since Euro area CA …

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union …. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors … countries over 1985-2006 to quantify the contributions of the pure Balassa-Samuelson effect and those of market regulations in …

of Euro–area banks to the global financial crisis. We focus on their interest–rate setting behavior in response to … standard macroeconomic shocks. Our main empirical finding is that the pass–through from changes in the money market rate to …

variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We … between senior tranche lending – including Target2 balances – and recent developments in the sovereign bond market, both …